On the recordJuly 12, 2017
I rise to once again discuss the ongoing effort to reform our Nation's Tax Code. Over the past several years, I have come to the floor often to make the case for tax reform by highlighting the many shortcomings of our current tax system and discussing the benefits we could reap by making the necessary changes. Over the last years while I have been serving as chairman or the lead Republican on the Senate tax-writing committee--both as ranking member and as chairman--I have made tax reform my top priority, and right now, I believe there is more momentum in favor of tax reform than we have seen in decades. To capitalize on that momentum, reform advocates like myself need to continue to make the case for updating and fixing our broken tax system. Toward that end, I intend to come to the floor often in the coming weeks and months to discuss various aspects of our tax system and make the case for reform. In my view, we need to go back to the drawing board and fundamentally rethink our entire tax system. This includes both the individual, as well as the business side of the tax ledger. Today, I want to talk specifically about our Nation's business tax system, with a particular focus on the corporate tax. Let's get the obvious out of the way first: The United States has the highest statutory corporate tax rate in the industrialized world. Looking at the effective corporate tax rates tells an equally gloomy story of the lack of American competitiveness.…
